SEOUL: World shipyard plans to increase the use of steel plate 12% this year, along with the high demand of container ships and oil tankers construction.

Hyundai Heavy Industries Co., the world's biggest buyer of steel plate plans to increase the use of raw materials 14% this year to the highest since 2008. The world's largest shipyard and affiliates expect to use 4 million tons of plate in 2011, increased from about 3.5 million tons last year, said Kim Ki Young, a company spokesman yesterday.

Consumption among the world's six largest yards, which are all based in South Korea, will rise 12% to 8 million tons. Shipyards spend the equivalent of about 15% of sales on steel plate, used to make hulls, making it their biggest materials expense.